Bad Credit Mortgages Market Conditions

Todays topic of conversation in the mortgage world….bad credit mortgages. 

As the US sub prime market conditions or bad credit mortgages to us in the UK is in meltdown, the question is what are the implications for the UK?

Sub prime or adverse lenders are tightening their lending criteria.

This means increasing rates, reducing the amount you can borrow or the loan to value (LTV) which the lender will secure against your property. They will impose tighter risk controls effectively making it harder for you pass the credit scoring to secure your bad credit mortgage.